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Vol. 140, No. 36 September 9, 2006 Civil Remedies (Trust and Loan Companies) RegulationsStatutory authority Trust and Loan Companies Act Sponsoring department Department of Finance REGULATORY IMPACT ANALYSIS STATEMENT For the Regulatory Impact Analysis Statement, see the Civil Remedies (Banks and Bank Holding Companies) Regulations. Notice is hereby given that the Governor in Council, pursuant to subsections 276(1) (see footnote 1), (3) (see footnote 2) and (6) (see footnote 3) and 531(1) (see footnote 4) of the Trust and Loan Companies Act (see footnote 5), proposes to make the annexed Civil Remedies (Trust and Loan Companies) Regulations. Interested persons may make representations with respect to the proposed Regulations within 30 days after the date of publication of this notice. All such representations must cite the Canada Gazette, Part I, and the date of this notice and be addressed to Mr. Gerry Salembier, Financial Sector Policy Branch, Department of Finance, L'Esplanade Laurier, 15th floor, East Tower, 140 O'Connor Street, Ottawa, Ontario K1A 0G5. Ottawa, August 25, 2006
MARY O'NEILL CIVIL REMEDIES (TRUST AND LOAN COMPANIES) REGULATIONS INTERPRETATION 1. In these Regulations, "Act" means the Trust and Loan Companies Act. CIVIL REMEDIES 2. For the purpose of paragraph 276(1)(d) of the Act, the prescribed percentage of voting rights attached to all of the trust and loan company's outstanding shares is 10%. 3. For the purpose of subsection 276(3) of the Act, "take-over bid" means a take-over bid under any legislation that is set out in column 2 of the schedule. 4. For the purpose of paragraph 276(6)(c) of the Act, the prescribed circumstances are that the insider (a) entered into the purchase or sale of the security as an agent pursuant to a specific unsolicited order to purchase or sell; (b) made the purchase or sale of the security pursuant to participation in an automatic dividend reinvestment plan, share purchase plan or other similar automatic plan that the insider entered into before the acquisition of the confidential information; (c) made the purchase or sale of the security to fulfil a legally binding obligation that the insider entered into before the acquisition of the confidential information; or (d) purchased or sold the security as agent or trustee in the circumstances described in paragraph (b) or (c). COMING INTO FORCE 5. These Regulations come into force on the day on which they are registered.
SCHEDULE TAKE-OVER BID
[36-1-o] S.C. 2005, c. 54, s. 422 S.C. 2005, c. 54, s. 422 S.C. 2005, c. 54, s. 422 S.C. 2005, c. 54, s. 449 S.C. 1991, c. 45 |
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